Why the Future of Bitcoin Depends on the Silk Road Trial

Over the weekend, Ross Ulbricht's lawyer, Joshua Dratel, filed a motion asking the court to dismiss all charges against the Silk Road kingpin. It's largely what you'd expect from a bullish defense attorney. But here's the twist: Dratel throws bitcoin under the bus. » 4/01/14 6:14pm 4/01/14 6:14pm

IRS Declares Bitcoin Is Property and Must Be Taxed As Such

With April 15 looming, plenty of bitcoin barons have been wondering how to treat their newfound crypto-fortunes. Does it count as capital gains? Is it taxed like a currency? Is it taxed at all? Well, on Tuesday, the Internal Revenue Service announced definitively that Bitcoin is property, and will be taxed as such. » 3/25/14 2:24pm 3/25/14 2:24pm

What Bitcoin Would Have Been Like If It Existed in the 90s

Bitcoin! It's wild! It's crazy! It's all the rage! But what if instead of bubbling up to the surface and making waves here in the twenty-teens it had gotten popular way back in the 90s? Well, it would have looked a little something like this. » 3/21/14 9:24am 3/21/14 9:24am

Conan Explains Bitcoin Once and For All

We have endeavored time and again to explain Bitcoin, but do any of you really understand it? It doesn't help that the mysterious digital currency keeps disappearing. Thankfully, here's a Conan O'Brien bit to set the record straight once and for all. » 3/11/14 12:31pm 3/11/14 12:31pm

The Guy Who Invented Bitcoin Is a Reclusive Oddball…

Bitcoin, like all great fantasies, has a compelling creation myth: one Satoshi Nakamoto existed on the internet just long enough to give birth to everyone's favorite cryptocurrency before disappearing for six years. Theories abounded as to the man's true identity. No one could track him down. That is, until Newsweek… » 3/06/14 8:49am 3/06/14 8:49am

Bitcoin Bank Flexcoin Shuts Down After $620,000 Heist

Flexcoin, famous for making bitcoin banking as easy as regular banking, is no more. The company shut its doors on Tuesday morning after hackers stole 896 bitcoins (nearly $620,000) from its vault on Sunday. And the most unsettling thing? That wasn't even the only bitcoin heist last weekend. » 3/04/14 9:38am 3/04/14 9:38am

If You Have Bitcoin in Mt.Gox, You Are Probably Fucked

Imagine if your bank wouldn't let you withdraw money, ignored your complaints, and then moved offices when you showed up at their door? If you put real dollars into Mt.Gox, the erstwhile top dog in Bitcoin trading, you've probably completely screwed. » 2/24/14 4:32pm 2/24/14 4:32pm

Hackers Have Stolen $40,000 From Bitcoin's Biggest Wallet Service

If you're looking to dive into the exciting world of Bitcoin, chances are you're going to get your start with Coinbase, one of the more reputable of wallet services that boasts about $15 million in Bitcoin transactions per month. As one TechCrunch editor said, "It's the one I would tell my mom to use." But even the best … » 2/07/14 9:53am 2/07/14 9:53am